Let’s take a break from the parade of pervs to focus on something also very serious, very damaging and very dishonest. The Republican so-called tax cut plan is an assault on Americans who are not rich while simultaneously gutting Medicaid. It permanently rewards corporations while endangering health insurance coverage for millions. It’s a debt-detonating charade that should outrage every American, pushed by liars who will personally benefit.
The words of Paul Ryan and Mitch McConnell cannot be believed. A look at the facts, rather than the rhetoric shows a frightening money grab for the entitled. While the cause célèbre is the ever-increasing roster of women-abusing men in positions of power, the nuts and bolts, very dry and boring numbers of the Republican onslaught on the average American cannot be ignored. Pay attention or be destined to regret it.
First things first. The Republican tax “cut” plan as originally proposed explodes the national debt. In yet another head-shaking case of hypocrisy, Republicans who have their career preaching fiscal restraint and debt-conscience budgeting are now willing to let it fly if it helps the rich and Democrats who never cared about the debt are now outraged.
The nonpartisan congressional Joint Committee on Taxation’s analysis shows that families making $75,000 or less would eventually see a tax increase while those making more than $100,000 would see significant tax cuts. The big corporate tax cuts are permanent. The individual tax cuts sunset.
Tax increases for households earning $10,000 to $30,000 would start in 2021 and grow sharply from there, JCT found. By 2027, most Americans earning $75,000 a year or less would be forced to pay more in taxes, while people earning more than $100,000 a year would continue to pay less. The report generated intense debate on Capitol Hill, as reported by the Washington Post.
The Senate version of the giveaway pays for some of the $2 trillion debt hole it creates by gutting Medicaid.
“If anything, the JCT tables understate the harm the proposal would do to low- and middle-income people, since they leave out both the coverage impacts in Medicaid and the premium increases millions of middle-income individual market consumers would face,” said Aviva Aron-Dine, a senior fellow at the left-leaning Center on Budget and Policy Priorities.
The plan isn’t just unfair, it’s heartless. The House-passed version eliminates the tax credits small businesses can get for making modifications or improvements to their properties to comply with the Americans with Disabilities Act.
But don’t worry about the disabled, the House hasn’t completely lost its collective mind. The tax loophole for golf courses remains untouched.
I wonder who could benefit from that?